I. Introduction
Microgrids are building blocks of future energy systems. They reinforce power systems reliability and resilience against planned and unplanned events and uncertainties. Notably, power electronics play a key role in implementation and operation of microgrids. However, they are a frequent source of failure and downtime in many applications [1]–[5]. In order to guarantee the reliable and optimal operation of such systems, reliability-based design approaches need to be employed during planning of such systems.